CKE Press Release

CARPINTERIA, Calif.--(BUSINESS WIRE)--CKE Restaurants, Inc. (“CKE Restaurants” or the “Company”) announced
today the results of its previously announced tender offer (the “Tender
Offer”) and consent solicitation (the “Consent Solicitation”) with
respect to the Company’s 11.375% Senior Secured Second Lien Notes due
2018 (the “Notes”).

Results of Tender Offer and Consent Solicitation for 11.375%Senior
Secured Second Lien Notes due 2018

The Company received tenders from holders of $463,829,000 aggregate
principal amount of Notes prior to 11:59 p.m., New York City time on
March 14, 2013, (the “Early Consent Date”). These tenders of the Notes
prior to the Early Consent Date represent approximately 98.24% of the
outstanding Notes, which amount exceeds the tender cap of $412,122,000
aggregate principal amount of Notes (the “Tender Cap”).

The Tender Offer and Consent Solicitation will remain open until they
expire as scheduled at 11:59 p.m., New York City time, on March 28, 2013
(the “Expiration Date”). Tendered Notes may no longer be withdrawn,
except to the extent that the Company is required by law to provide
additional withdrawal rights.

Subject to the Tender Cap and proration, each holder who tendered its
Notes prior to the Early Consent Date and has its Notes accepted in the
Tender Offer will receive, as total consideration, a cash payment of
$1,177.50 in exchange for each $1,000 principal amount of Notes that is
accepted. Such total consideration includes an early consent payment, in
cash, of $30.00 per $1,000 principal amount of Notes so tendered and
accepted. The Company will determine the final proration factor and
announce the results of such proration as soon as practicable after the
Expiration Date.

In addition, the Company has received the requisite consents for the
proposed amendments to the Indenture, dated as of July 12, 2010 (the
“Base Indenture”), by and between the Company (as successor by merger to
Columbia Lake Acquisition Corp.) and Wells Fargo Bank, National
Association, as trustee (the “Trustee”), pursuant to which the Notes
were issued, as amended and supplemented by the First Supplemental
Indenture dated as of July 12, 2010, by and among the Company, the
guarantors named therein and the Trustee (the Base Indenture, as so
amended and supplemented, the “Indenture”), which (i) eliminate or waive
substantially all of the restrictive covenants contained in the
Indenture and the Notes, (ii) eliminate certain events of default, (iii)
modify covenants regarding mergers and consolidations, (iv) modify or
eliminate certain other provisions, including, in some cases, certain
provisions relating to defeasance, contained in the Indenture and the
Notes and (v) release the liens and security interests in all of the
collateral securing the Notes and the guarantees thereof, as
contemplated by the Indenture. The Company, the guarantors and the
Trustee have executed a supplemental indenture, which gives effect to
the foregoing amendments, including the collateral release, which are
effective upon execution and will become operative upon settlement of
the Tender Offer and Consent Solicitation. As such, consents previously
delivered and not withdrawn in connection with the Tender Offer and
Consent Solicitation may no longer be withdrawn. The Company expects to
settle the Tender Offer and Consent Solicitation on or about April 1,
2013.

The complete terms and conditions of the Tender Offer and Consent
Solicitation are as set forth in the Tender Offer and Consent
Solicitation Statement, dated March 1, 2013, and the related letter of
transmittal and consent (collectively, the “Tender Offer Documents”).

The obligation of the Company and the guarantors to complete the Tender
Offer and Consent Solicitation (including to accept and purchase the
tendered Notes in the Tender Offer and make the related consent payment)
is subject to a number of conditions precedent, including the
completion, on or prior to the date of settlement, of a New Debt
Financing (as defined in the Tender Offer Documents), on terms
satisfactory to the Company. There can be no assurance that any New Debt
Financing will be completed on terms satisfactory to the Company or at
all.

General

This announcement shall not constitute an offer to purchase or a
solicitation of an offer to sell any securities.

Barclays Capital Inc. is acting as Dealer Manager for the Tender Offer
and Solicitation Agent for the Consent Solicitation. Questions regarding
the Tender Offer and Consent Solicitation may be directed to Barclays
Capital Inc., Attn: Liability Management Group at (800) 438-3242
(toll-free) or at (212) 528-7581 (collect).

D.F. King & Co., Inc. is acting as the Tender Agent and Information
Agent for the tender offer and consent solicitation. Requests for the
Tender Offer Documents from eligible holders may be directed to D.F.
King & Co., Inc. at (212) 269-5550 (for brokers and banks) or (800)
290-6426 (for all others).

About CKE Restaurants

CKE Restaurants, Inc. is a privately held company headquartered in
Carpinteria, Calif. As of January 28, 2013, the Company, through its
subsidiaries, had a total of 3,318 franchised or company-operated
restaurants in 42 states and 28 foreign countries and U.S. territories
worldwide. For more information about CKE Restaurants, please visit www.ckr.com.

Forward-Looking Statements

Matters discussed in this press release contain forward-looking
statements, which are based on management’s current beliefs and
assumptions. Although the Company does not make forward-looking
statements unless it has a reasonable basis for doing so, the Company
cannot guarantee their accuracy. Such statements are subject to risks
and uncertainties that are often difficult to predict, are beyond the
Company’s control, and which may cause results to differ materially from
expectations. Factors that could cause the Company’s results to differ
materially from those described include, but are not limited to: the
Company’s ability to complete a New Debt Financing on terms satisfactory
to it; the Company’s ability to compete with other restaurants,
supermarkets and convenience stores for customers, employees, restaurant
locations and franchisees; changes in consumer preferences, perceptions
and spending patterns; changes in food, packaging and supply costs;
changes in interest rates, commodity prices, labor costs, energy costs
and other expenses; the ability of the Company’s key suppliers to
continue to deliver premium-quality products to the Company at moderate
prices; the Company’s ability to successfully enter new markets,
complete construction of new restaurants and complete remodels of
existing restaurants; changes in general economic conditions and the
geographic concentration of the Company’s restaurants, which may affect
the Company’s business; the Company’s ability to attract and retain key
personnel; the Company’s franchisees’ willingness to participate in the
Company’s strategy; risks associated with implementing the Company’s
growth strategy, including opening new domestic and international
restaurants; the operational and financial success of the Company’s
franchisees; the willingness of the Company’s vendors and service
providers to supply the Company with goods and services pursuant to
customary credit arrangements; risks associated with operating in
international locations; the effect of the media’s reports regarding
food-borne illnesses, food tampering and other health related issues on
the Company’s reputation and its ability to procure or sell food
products; the effectiveness of the Company’s marketing and advertising
programs; the seasonality of the Company’s operations; the effect of
increasing labor costs including healthcare related costs; increased
insurance and/or self-insurance costs; the Company’s ability to comply
with existing and future health, employment, environmental and other
government regulations; the Company’s ability to adequately protect its
intellectual property; the adverse effect of litigation in the ordinary
course of business; a significant failure, interruption or security
breach of the Company’s computer systems or information technology;
catastrophic events, including war, terrorism and other international
conflicts, public health issues or natural causes; the potentially
conflicting interests of the Company’s controlling stockholder and its
creditors; the Company’s substantial leverage, which could limit its
ability to raise capital, react to economic changes or meet obligations
under its indebtedness; the effect of restrictive covenants in the
indentures governing the Notes and the Credit Facility on the Company’s
business; and other factors as discussed in the Company’s filings with
the SEC.

As a result of these risks and uncertainties, or as a result of other
risks and uncertainties of which the Company’s management is currently
unaware or that the Company’s management does not presently believe to
be material, the Company cannot assure readers that the forward-looking
statements in this press release will prove to be accurate. Furthermore,
if the Company’s forward-looking statements prove to be inaccurate, the
impact may be material. In light of the significant uncertainties in
these forward-looking statements, readers should not regard these
statements as a representation or warranty by the Company or any other
person that the Company will achieve its objectives and plans in any
specified time frame, or at all. The forward-looking statements in this
press release speak only as of the date of this press release.

The Company expressly disclaims any obligation to publicly update or
revise any forward-looking statement, whether to conform such statement
to actual results or as a result of changes in the opinions or
expectations of the Company’s management, new information, future events
or otherwise, in each case except as required by law.